Buy a home… or a second home first?

Although a holiday home is usually referred to as a 'second home', there are more and more first-time buyers who choose to buy a holiday home first and continue to pay rent for their own home. For example, they buy an apartment at the Turkish Riviera at a much lower price than a house in the city at home.

Why buy a second home instead of a home?

For many buyers who choose to buy a holiday home first, whether or not as an investment, an attractive advantage is the option to continue living in their own area while paying low mortgage rates in more affordable locations.

Investment properties are purchased for business purposes and are often less expensive than regular homes in urban environments. These properties usually sell within a short time after they appear on the housing market and are more affordable for first-time buyers. We at Home Catcher keep an eye on the latest local developments, so that we can offer the most recent investment objects directly to our customers.

The number of investors who can pay cash directly must also be taken into account, which makes it more difficult for first-time buyers to buy a home in the local market. And even though it may be cheaper to buy a home in another market, some influences still apply here.

What are the advantages of buying a second home before a regular home?

Like any financial choice, buying a home depends on your personal circumstances, whether this will be a vacation rental, investment object, or the home you live in. The decision to buy a regular home or a second home first depends on several factors, such as your income, which risks you are willing to take and how far into the future you want to plan. These are some advantages of buying your second home first:

The ability to start building capital early

When you build a home, you have the opportunity to build up capital as your purchase increases in value over the years. If you buy with a mortgage, your share of ownership increases every month as you pay the mortgage.

Rental income can reimburse the cost of the property

If you buy a home with the intention of renting out, you may discover that the rent you collect will cover the cost of buying and maintaining the home.

Make beautiful memories in your holiday home and rent it out

If you buy a holiday home, you can enjoy it during holiday periods with friends and family. In addition, you can rent out your home during periods you do not wish to use it.